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  1. #1341

    Default Tax Working Group

    Have I missed something? Is the TWG Interim Report and its proposals that could completely destroy us being discussed somewhere else on this forum?

    I keep emphasizing on any sites available (e.g. Stuff) that house prices aren't any real 'gain' but just housing inflation. But too few kiwis seem to get that. They see a year of high housing inflation and feel hard done by. Never mind all the years of deflation or flat house prices long term investors have gone through.

    What do you all think? Is there any hope?

  2. #1342

    Default

    I think it's because nobody is surprised and nobody thinks Labour will back a CGT unless they don't want to be the government anymore.

    How do you think CGT could destroy us?

    Personally I'm more concerned with DTI and Wealth Taxes, which while that got a mention... we saw how few voted for TOP.
    Free online Property Investment Course from iFindProperty, a residential investment property agency.

  3. #1343
    Join Date
    Sep 2008
    Posts
    7,658

    Default

    all in the 212 pages of

    the capital gains thread

    https://www.propertytalk.com/forum/s...please/page212
    have you defeated them?
    your demons

  4. #1344

    Default

    Thanks Nick, yes I meant a broader concern when I said CGT. Land tax, wealth tax any Robin Hood tax they want to shove down the throat of hardworking kiwis who have managed to save a bit of a nest egg.

    But yes, CGT would certainly destroy me financially if it was annualised as a 'wealth tax' or if I needed to sell and then be unable to buy another property.

    I hope you're right about them not daring...

    Sorry Eri, I'll go to the other thread now.
    Last edited by Nikau Valley; 24-09-2018 at 05:42 PM.

  5. #1345
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,237

    Default

    Quote Originally Posted by Nikau Valley View Post
    Have I missed something?
    Quite possibly.

    But you should be in the right discussion thread, now.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  6. #1346
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,237

    Default

    Quote Originally Posted by flyernzl View Post
    That was actually the original plan for Fringe Benefit Tax..

    You got paid $x in money and received non-cash perks valued at $y.
    Add the two together, that was your total remuneration, and you paid income tax on that total.
    That way makes sense.

    Then, just to see how it went, someone idly ran the figures over a parliamentary Ministers total remuneration package and found - shock, horror! - that their FBT payment would in some cases actually be higher than their cash income.

    So the onus of payment was hastily switched from the employee to the employer.
    Whew, disaster averted.
    The Government pays itself tax on its employees earnings.
    Welcome to mickey-mouse-land.

    Peter

    Do you have any references (relating to what you said) which I could use?
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  7. #1347
    Join Date
    Mar 2007
    Location
    Auckland
    Posts
    3,071

    Default

    Sorry, way too far back in history to track anything now.
    I suspect it was in a political comments column in the Herald years ago.

  8. #1348
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,237

    Default Cloud Cuckoo Land Logic

    Bugger! Wonder if an Internet search would show that matter up?

    What prompted my question was this item.

    Seems that the w'gton woodenheads are exempt from the "tax cheats" label.

    Of course, the mention of "hospitals, schools and national parks" diverts attention from MPs spouses' taxpayer-subsidised air travel, ex-PM taxpayer-funded perks, MPs taxpayer-funded gold-plated superannuation, and so on. None of which are subject to FBT, as would occur in the real world.

    And - of course - the IRD collects real money from real peoples earnings to pay their own wages and salaries!

    Independent and objective?

    Yeah, right.
    Last edited by Perry; 20-07-2019 at 08:10 PM.
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